While volatile in 2020, natural gas prices are poised to settle into a price range of $2.00-3.00/MMBtu and hold there into 2021, Moody’s Investor Service said in a new forecast. The credit ratings analyst said shut-in oil wells and scaled back associated natural gas volumes amid fallout from the coronavirus pandemic would keep prices higher…
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LNG Feed Gas Takes a Hit on Cove Point Maintenance as October Natural Gas Slides
A drop in liquefied natural gas (LNG) demand kept the pressure on gas futures near the front of the curve in early trading Monday. The October Nymex contract was down 7.4 cents to $1.974/MMBtu at around 8:40 a.m. ET. The start of annual fall maintenance at the Dominion Energy Cove Point LNG terminal has cut…
Natural Gas Bulls, Bears Battle for $2 Gas in Continued Slide for Forward Prices
The losses continued for natural gas forward prices during the Sept. 10-16 period, with cooling weather and increasing storage concerns pouring salt in the wound left by the lingering shutdown of the Cameron liquefied natural gas (LNG) export terminal in the wake of Hurricane Laura. October natural gas fell an average 7.0 cents over the…
Governments, Free Markets Seen as Integral to Growing LNG Demand
Government intervention and free markets will be necessary to grow global liquefied natural gas (LNG) demand in the next decade and provide markets for U.S. gas producers, according to industry executives. Cheniere Energy Inc.’s Anatol Feygin, chief commercial officer of the largest U.S. LNG exporter, said at the recent Gastech Virtual Summit that the Houston…
Traders Mull Storage Risks, ‘Exceptionally Active’ Hurricane Season as October Natural Gas Down Early
Natural gas futures continued to come under downward pressure near the front of the curve in early trading Friday, with a larger-than-expected inventory build and tropical cyclone-related demand destruction weighing on prices. The October Nymex contract was down 4.9 cents to $1.993/MMBtu at around 8:45 a.m. ET. Conversely, January was up 4.3 cents to $3.272.…
Containment Risk Drives Natural Gas Forwards Lower; EIA Data Sends October Plunging to $2.00
The losses continued for natural gas forward prices during the Sept. 10-16 period, with cooling weather and increasing storage concerns pouring salt in the wound left by the lingering shutdown of the Cameron liquefied natural gas (LNG) export terminal. October natural gas fell an average 7.0 cents, while November tumbled a more substantial 14.0 cents…
LNG Q&A: GECF Secretary Says World’s Leading Natural Gas Exporters Weathering Covid-19 ‘Storm’
Editor’s Note: The following segment is one in a series by NGI’s LNG Insight focused on exploring how the global liquefied natural gas (LNG) market works. The conversations in this series will also analyze news and the issues that matter most to the industry in North America and beyond. Yury Sentyurin is the secretary general…
Alaska LNG Finishes Federal Regulatory Process with NOAA Approval
The Alaska liquefied natural gas (LNG) project cleared its final federal regulatory hurdle this week after the National Oceanic and Atmospheric Administration (NOAA) authorized the incidental take of marine mammals. The authorization was issued Wednesday permitting the harm or killing of porpoises, sea lions, seals and whales during a five-year period from 2021-2025 during specified…
Natural Gas Futures Down Ahead of EIA Report; Cameron LNG Restart Possibly Weeks Away
With the latest government storage data expected to show a hefty weekly injection, adding to an already comfortable cushion in Lower 48 inventories at this point in the season, natural gas futures extended their recent losses in early trading Thursday. After sliding 9.5 cents in the previous session, the October Nymex contract was down 7.5…
Abu Dhabi Sovereign Wealth Fund Buys Major Stake in Cheniere Energy
The state-owned Abu Dhabi Investment Authority (ADIA) has acquired a 5.05% share in U.S. liquefied natural gas (LNG) exporter Cheniere Energy Inc., according to a Wednesday filing with the U.S. Securities and Exchange Commission. The sovereign wealth fund owns about 12.7 million shares of Houston-based Cheniere that are valued at about $648 million. Cheniere’s share…